The world is integrated and interconnected like never before. Cheaper communications technologies, falling transportation costs, and deregulation are all examples of developments facilitated by the trend known as globalization. Globalization has transformed the world economy into one large economy, and most countries that use the democratic system as the regime type and accept this new economy operate on an international scale. It can therefore be said that globalization is the shift towards a more interactive world economy. This internationalization of the world economy has benefited industrialized countries that dominate world trade and finance, as well as poorer and less developed countries. While some may see it as tremendous prosperity for everyone, everywhere, some countries have gained very little from this globalization. This essay will focus on different perspectives regarding the positive and negative aspects of globalization and why there have been significant differences in the experience of some nations. To begin with, one should determine when and how globalism began. As Nobel Prize winner Amartya Sen argues, globalization “is neither new nor necessarily Western”. Since globalization is often seen as domination by the West, which has always been at the forefront in terms of technology, modernity and innovation, critics see the internationalization of the world economy as an exclusive advantage for already developed countries . In this light, capitalism and “greedy and greedy” countries, especially in Europe and North America, have established rules, policies, terms and conditions that do not create increased growth and development for poorer nations. Nonetheless, Sen argues that globalization has… middle of paper… Globalization has negative as well as positive aspects: it deserves a reasoned defense, as it has linked cultures, information and technologies between nations. However, if it is to remain in the future, reform must be considered and implemented. Works Cited Anwar, Sajid. “Globalization and National Economic Development: Benefits and Costs Analysis” in Journal of Business and Management Volume 8, (2002): 1-7.Friedman, Thomas. The Lexus and the Olive Tree. (New York, NY. Anchor Books, 200). Sachs, Jeffrey. “International Economics: Unraveling the Mysteries of Globalization,” in Foreign Policy, n.110 (Spring, 1998): 97-111.Sen, Amartya. “How to Judge Globalism,” in The American Prospect Volume 12, no. 1 (January 14, 2002): 30-36.Stiglitz, Joseph. “The Discontents of Globalism,” in The American Prospect Volume 12, No. 1 (January 14, 2002): 1-8.